Project Management Methodologies: A Comparative Study

This assignment explores the benefits and drawbacks of two prominent project management methodologies: PMBOK and PRINCE2. It delves into their respective strengths and weaknesses, considering factors such as project size, complexity, and industry. The analysis culminates in a case study examining the application of PRINCE2 for an FBI project involving online crime reporting.

PROJECT MANAGEMENT METHODOLOGY
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Institution affiliation
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PROJECT MANAGEMENT METHODOLOGIES
Table of Contents
INTRODUCTION.........................................................................................................................1
DISCUSSION.................................................................................................................................1
PRINCE2 METHODOLOGY..................................................................................................1
Advantages of PRINCE2..........................................................................................................1
Disadvantages of PRINCE2.....................................................................................................2
PMBOK METHODODLOGY..................................................................................................3
Advantages Of PMBOK...........................................................................................................3
Disadvantages...........................................................................................................................3
PROJECT CHOICE..................................................................................................................4
CONCLUSION..............................................................................................................................4
REFERENCES..............................................................................................................................4

INTRODUCTION
A project is a short contractual exercise whose aim is to produce a certain specific product with a
set start and end time schedule. In a project, the operations are designed in a way that they fall
within the project’s scope, estimated budget, available resources and the product requirements,
including the quality standards and all other features of a product. Project management is the
application of a project manager’s and team members’ skills, knowledge, tools, techniques and
experiences in a project to be able to produce the required product as well as achieve the
product’s goals and objectives (Maley, 2012). Project management methodologies are basically
the methods that a project manager or a business management team implements to help them
conduct project operations easily and faster (Chin et al, 2010).
DISCUSSION
PRINCE2 METHODOLOGY
PRINCE2 is a word that stands for Project in Controlled Environments. It is most commonly
used for businesses managed by the UK government as well as those that originate from product-
based approach. Originally, the methodology was created specially to be used in IT projects
(Kruger et al, 2013). The methodology has recently evolved and now being used in various
projects but still keeps its principles, themes and processes on ensuring that the stages for its
implementation are complete and effective. PRINCE2 methodology involves a series of multiple
stages, whereby each stage has its own plans and processes to follow before it is completed and

deemed successful(Chin et al, 2012). In that case, the methodology involves the definition of its
inputs and outputs in every phase of its implementation to ensure that everything is clear and
successful at the end of it all. PRINCE2 is a very effective methodology which is a quality
feature derived from its characteristics on being a process oriented methodology.
Advantages of PRINCE2
Predictable
It provides a clear picture of what the end product will be, i.e. all the features. This is through the
fact that the project is usually broken down into stages which are monitored and controlled with
their own specific processed and procedures from their beginning to their end and the product is
evaluated after every stage.
Tests and Trials
It is a very effective and efficient methodology because of the many trials and tests that it has
undergone. There are a large number of businesses that have practically used the method and
ensured the effectiveness of its inputs, processes, themes and principles into producing the
expected product.
Standardization
The methodology standardizes every project aspect or activity with an aim of ensuring that there
is no miscommunication or misdirection experienced by either the business owners, stakeholders
or the project managers and team members(Singh et al, 2014). The standardization process
ensures that every party is aware of their roles and responsibilities clearly.
Saves Money and Time

Through standardization, time and money is saved from training and educating employees who
are already aware of what their roles and responsibilities are and actually have experience, skills
and expertise on the methodology processes, themes and principles.
Delivers Quality and Compliance
The methodology ensures focus and clarity to the project parties. The end product from the
project is clearly identified and defined from the beginning which is followed to the letter. These
requirements are listed clearly in terms of quality, composition and other aspects which are later
controlled and managed till end which produces best quality products and procedure/rule
compliance.
Disadvantages of PRINCE2
Specialists Aspect
The methodology fails to recognize some very special and important specialists’ activities like
engineering, organizational change management or procurement needed for construction projects
etc.
Risk Management
The methodology does not offer opportunities for carrying out a risk management activity
because it deems the first stage of the methodology the most important of all the others.
Analysis Requirements
It does not allow explicit requirement treatment or analysis. It considers what the client said as
final and one to be followed.
Documentation

It requires thorough and a lot of documentation of the operations. This gives the parties involved
a hell of a time to manage and keep track of its progress.
Planning
When planned, the process is not very effective which increases chances of the projects going off
track and off the project scope and constraints.
PMBOK METHODODLOGY
This actually refers to a Guide to the Project Management Body of Knowledge. Therefore it is
not an actual methodology but a basically an approach to project planning, executing, controlling
and closure(Karaman et al, 2015).
Advantages of PMBOK
 It is a generally well accepted guide all over the world
 It focuses on improving project performance and success
 Offers an easy breakdown and guidance to every project methodology and project that
can be used by business enterprises.
 Offers expansion experience towards various project fields and industries
 Provides standardization of project processes
Disadvantages
 Most suitable for small projects only
 Views at a project as a single entity and not as a part of the business operation

 Very inefficient for projects that require immense changes and complicated requests like
software or IT projects (Sharon, 2009)
 Consist of many various project methodology options that can be used in the same
situation or project
 Encourages project governance to be done by the project sponsor and the stakeholders
PROJECT CHOICE
The project of my choice is a project on the FBI’s trial to replace the reporting of crimes using
papers with an online system. The project methodology that would be effective for this project is
the PRINCE2 methodology. This is because it was actually designed to be used in governmental
projects and small projects whilethe PMBOK would not be so effective because it could only
offer guidelines in general on what to do and use but not specifically not what to use(Al Matari,
2014).
CONCLUSION
The methodologies offer help to the project managers by giving them a guidance on what to do,
by whom and at what time. There are a number of different project management methodologies
available for use by various business organizations, e.g. agile, waterfall, PRINCE2, scrum,
Kanban, XP to name a few. However, every business has to choose he right, effective and
efficient methodology for its operations based on the size, project time period, type of project,
kind of product anticipated among other things.

REFERENCES
Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince 2
versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering
Research, 4(5), 657-664.
Singh, R., & Lano, K. (2014). Literature Survey of previous research work in Models and
Methodologies in Project Management. International Journal of Advanced Computer
Science and Applications, 5(9), 107-122.
Al Matari, A. (2014). PRINCE2 and PMBoK: Towards a Hybrid Methodology for Managing
Virtual Projects Master–Thesis.
Chin, C. M. M., Spowage, A. C., & Yap, E. H. (2012). Project Management Methodologies: A
Comparative Analysis Participation. Journal for the Advancement of Performance
Information & Value, 4(1).
Chin, C. M. M., & Spowage, A. C. (2010). Defining & classifying project management
methodologies. PM World Today, 12(5), 1-9.
Sharon, I. (2009). Decision framework for selecting a suitable software development process.
Maley, C. H. (2012). Project management concepts, methods, and techniques. CRC Press.
Kruger, W., & Rudman, R. (2013). Strategic alignment of application software packages and
business processes using PRINCE2. The International Business & Economics Research
Journal (Online), 12(10), 1239.